https://www.taxtmi.com/caselaws?id=13321 The High Court dismissed the appeal against the Income-tax Appellate Tribunal's order on wealth-tax assessment for the years 1996-97 to 1998-99. The Court found that the property in question, a commercial building, did not qualify as "assets" under the Wealth-tax Act, as it fell under the exclusion for certain residential properties. The Tribunal's decision was upheld as the Assessing Officer did not establish the building's residential nature, leading to the appeal's dismissal. The Court adjourned two related appeals for further consideration due to similar issues in other cases. en-us Mon, 08 Jan 2007 00:00:00 +0530 Thu, 28 May 2009 11:26:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13321 The High Court dismissed the appeal against the Income-tax Appellate Tribunal's order on wealth-tax assessment for the years 1996-97 to 1998-99. The Court found that the property in question, a commercial building, did not qualify as "assets" under the Wealth-tax Act, as it fell under the exclusion for certain residential properties. The Tribunal's decision was upheld as the Assessing Officer did not establish the building's residential nature, leading to the appeal's dismissal. The Court adjourned two related appeals for further consideration due to similar issues in other cases. Case-Laws Income Tax Mon, 08 Jan 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13321